BRIEF: EC Approves Italy's 5th NGEU Payment Request For EUR11 billion

MNI BRIEF: ECB's Eye On French Markets, Price Stability Key

MNI BRIEF: Lower Inflation Path Remains Bumpy - Lagarde

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

MNI BRIEF: China Aims For AI Standards By 2026

EZ/UK T-Bill Calendar: Greece, EU Auction on Wednesday

EZ/UK Bond Supply Calendar: 2.60% Aug-34 Bund Due Wednesday

Ita-coin Nowcast Negative For Second Month

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Futures Reverse Overnight Weakness, BoJ Rinban Operations Due

JGBS
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

JGB futures have pushed into positive territory in Tokyo morning trade, +6 compared to settlement levels, after overnight losses.

  • Jibun Bank PMIs for June have printed: Composite Index fell to 49.7 from 52.6 in May, and Services Index fell to 49.4 from 53.8 in May.
  • (Bloomberg) Sumitomo Life Insurance says the yield on Japan’s 30-year bonds could rise to a maximum of 2.5% within the fiscal year ending March 2025, and that the current level isn’t attractive enough to make intensive investments. (See link)
  • Cash JGBs are flat to slightly richer, with the 5-year zone outperforming. The benchmark 10-year yield is 0.2bp higher at 1.089%.
  • The BoJ will conduct Rinban Operations today covering 1-5-year and 10-25-year JGBs. No change in bond buying is expected as we await more details on the BoJ plans. The central bank is meeting with key stakeholders in the bond market space early next week.
  • Swaps are 1bp richer across maturities. Swap spreads are mostly tighter.
158 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

JGB futures have pushed into positive territory in Tokyo morning trade, +6 compared to settlement levels, after overnight losses.

  • Jibun Bank PMIs for June have printed: Composite Index fell to 49.7 from 52.6 in May, and Services Index fell to 49.4 from 53.8 in May.
  • (Bloomberg) Sumitomo Life Insurance says the yield on Japan’s 30-year bonds could rise to a maximum of 2.5% within the fiscal year ending March 2025, and that the current level isn’t attractive enough to make intensive investments. (See link)
  • Cash JGBs are flat to slightly richer, with the 5-year zone outperforming. The benchmark 10-year yield is 0.2bp higher at 1.089%.
  • The BoJ will conduct Rinban Operations today covering 1-5-year and 10-25-year JGBs. No change in bond buying is expected as we await more details on the BoJ plans. The central bank is meeting with key stakeholders in the bond market space early next week.
  • Swaps are 1bp richer across maturities. Swap spreads are mostly tighter.